Ranking Member Cassidy on Biden Shifting Another $1.2 Billion in Student Debt Onto Taxpayers

WASHINGTON – Today, U.S. Senator Bill Cassidy, M.D. (R-LA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, released a statement following the Biden administration announcement that it will be transferring an additional $1.2 billion in student debt onto taxpayers. This latest announcement is a part of the administration’s student loan scheme, which will allow a majority of bachelor’s degree student loan borrowers to not pay back even the principal on their loans, costing taxpayers as much as $559 billion.

While the Biden administration prioritizes enacting student loan schemes, it failed to properly implement the new Free Application for Federal Student Aid (FAFSA) program. These delays prevent students and families from accessing crucial financial aid information as they choose the college they can afford to attend.

“The Biden Department of Education has been unable to fulfill their basic responsibilities mandated by Congress and essential to families like implementing FAFSA. Instead, they have spent a considerable amount of time prioritizing their student loan schemes to shift someone else’s debt onto taxpayers that chose not to go to college or already paid off their loans,” said Dr. Cassidy. “This is unfair, manipulative and a cynical attempt to buy votes.”

At a recent press conference, Cassidy announced that the Government Accountability Office (GAO) has begun an investigation into the Department of Education’s (DeptEd) incompetent mishandling of FAFSA following a bicameral request from Republican lawmakers. Cassidy also announced that his office launched a website hotline for students, guidance counselors, college admissions faculty, financial aid administrators, and others to report issues they have had with the FAFSA process: www.help.senate.gov/FAFSA.    

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